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Facebook Ditches Credits Currency

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Looking to "simplify the purchase experience," Facebook has decided to get rid of the Credit system of payment on the site, according to The BBC. Users with a Credit balance will have the remaining amount converted into local currency. As a result of getting rid of Credits, game publishers will now be able to charge a subscription fee for playing games starting in July. Subscriptions are currently being tested by game companies Zynga and KIXEYE.

Facebook takes 30% of all transactions and the company does not believe it will lose money by switching payment methods. This news comes on the heels of Facebook announcing an app center to promote the software on its own network.

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Nearly any Facebook user can expand his game playing experience on the social networking site simply by purchasing Facebook Credits: unlocking special weapons to help in the quest to take back the neighborhood in Digital Chocolate's Zombie Lane, beefing up culinary creations on Zynga's Café World, or unveil clues to aid in your search for hidden objects on Zynga's Hidden Chronicles. As of July 1, 2011, all Facebook game and application developers with a purchasing system must user Facebook Credits.How is that sitting with the developers?